Townsquare Capital LLC Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

Townsquare Capital LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,900 shares of the financial services provider's stock after buying an additional 4,755 shares during the quarter. Townsquare Capital LLC's holdings in Brown & Brown were worth $8,458,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the fourth quarter valued at approximately $28,000. Y.D. More Investments Ltd boosted its holdings in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd purchased a new stake in Brown & Brown during the fourth quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in Brown & Brown in the fourth quarter valued at $37,000. Finally, Versant Capital Management Inc raised its position in shares of Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock worth $42,000 after acquiring an additional 234 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Down 1.4 %

Shares of BRO traded down $1.63 during midday trading on Friday, reaching $117.17. The company had a trading volume of 1,795,477 shares, compared to its average volume of 1,434,392. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $117.28 and a 200-day simple moving average of $109.98. The stock has a market cap of $33.50 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.51%. Brown & Brown's payout ratio is 17.34%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BRO shares. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Truist Financial boosted their price objective on Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research report on Tuesday. Jefferies Financial Group increased their target price on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Barclays upped their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Finally, UBS Group lifted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $117.50.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.